Looking at a B/S which is Item 8. Financial Statements and Supplementary Data in the 10-K of 2020 CCL.

The cash jumped from 518 to 9513 from year 2019 to 2020. It looks it came from the increasing of short-term borrowings and long term debts.

Are there ways to understand the details of the borrowings and debts? How they raised the money in what ways, from who, when, and in what conditions?

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  • Don't overlook the 5MM in "additional paid-in capital" which is most likely additional shares issued and sold.
    – D Stanley
    Nov 29, 2021 at 1:49

1 Answer 1


You can find some of the details you are looking for in the note on debt which would be within the notes attached to the company's financials.

The note on debt would typically discuss the type, i.e. bank debt or bond issuance, interest rate(s), maturities, principal payment schedules for the outstanding borrowings as well as any important conditions attached to them such as the covenants. By comparing such details with those disclosed in a previous period's financials, you can figure out to some extent which of the borrowings were new, which of them were taken on or paid/retired in which quarter, and their terms in addition to any other conditions on them.

Details such as exactly when new borrowings or refinancings were made and from whom, unless critical to the company's prospects, are not required to be disclosed and therefore are typically not.

The quarterly or annual business update/management's discussion of the results that may be voluntarily issued by the company in addition to the SEC required filings may include a useful summary of the company's borrowing activities for the relevant period with a bit of further detail.

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